ARK Invest CEO Cathie Wood thinks the U.S. Securities and Exchange Commission (SEC) will decide on multiple Bitcoin (BTC) spot exchange-traded funds (ETFs) at the same time. Wood says the SEC decision date for ARK’s 21Shares Bitcoin spot ETF application, currently scheduled for August 13th.
Guest: Gareth Soloway Chief Market Strategist of InTheMoneyStocks.com Join Gareth's Stock & Crypto course using our link! ➜ https://www.verifiedinvestingeducation.com/paulbarron
What if ARK ETF gets denied?
Ark’s application for a spot bitcoin ETF was published in the Federal Register on May 15. A June 15 filing in the Federal Register from the SEC designated Aug. 13 “as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change.”
However, the SEC can extend the deadline to a maximum of 240 days. At its maximum, the SEC could theoretically delay a final response until Jan. 10, 2024 for the Ark application, and until March 2024 for the others, according to Matt Hougan, chief investment officer at Bitwise Asset Management, which has an application in front of the SEC.
How Big is this Paypal deal to EThereum
If just 1% of active PayPal users convert their USD balance into PYUSD (that would be the equivalent of $4.35 million) and begin using their stablecoins, this would cause massive ramifications to the Ethereum ecosystem and the ETH token itself.
Are we expecting a Q3 Sell Off?
https://coinedition.com/is-a-potential-market-selloff-looming-as-q3-has-a-quiet-start/
The cryptocurrency market intelligence platform Kaiko tweeted yesterday that the market might be in the midst of one of its longest periods without a major selloff since 2020. According to the post, the 3rd quarter of this year started off fairly quietly. Subsequently, Kaiko questioned the possibility of a potential market-wide selloff in the next few weeks.